Bank of Canada Comments on BitCoin

by Jeff Sanford15 May 2014

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Bank of Canada Comments on BitCoin

The Bank of Canada Spring Review contains a review of bitcoin and digital currencies. Unsurprisingly, the central bank generally dismisses the idea of bitcoins, suggesting that the stability of the financial industry could be threatened if bitcoins develop into a widely used means of payment.

Model-laden, super-entrepreneur Richard Branson takes a different tack: The billionaire recently announced a big investment in a Bitpay, a bitcoin-based online payment service. Branson also announced Virgin's coming rocketship service, Virgin Galactic, will accept Btc. “Banking as we know it is in the midst of enormous change and innovation.

We have jumped in by investing in alternative payment models and also by accepting bitcoin for tickets on Virgin Galactic,” said Branson. “Bitpay proven itself to process bitcoin safely and reliably, growing the market and increase adoption, which continues to build trust, legitimacy and momentum in this exciting currency revolution.”
Apparently, Canada is leading the world in the development of bitcoin ATMs.Read the full story